The International Monetary Fund urged the United States on Wednesday to raise the nation’s borrowing limit, warning that inaction could lead to higher interest rates that would harm the domestic economy and world financial markets.
The debt limit is the amount the government can borrow to help finance its operations. The United States [...]
Posts Tagged ‘obama’
I.M.F. Urges Debt Limit Action in U.S.
June 30th, 2011 by Financial Writer
Tags: Debt, economy, International Monetary Fund, obama, united states, world financial markets
more...TAX THE RICH! OK, BUT THEN WHAT?
April 12th, 2011 by Financial Writer
For years, President Obama has been clear about his preferred tax policy: Tax the rich more and protect households that make less than $250,000 from higher taxes.
It’s not clear what he’ll say about taxes on Wednesday when he lays out his ideas for how to tackle the country’s long-term debt. If history holds, he’ll stick [...]
Tags: 2012, AIG, au, ben, bipartisan, Debt, deficit, economic, economically, economy, fed, household, households, increase, Invest, investment, lawmakers, money, mortgage, obama, president, rate, spending, taxpayers, ubs, us
Former auto czar pays $10 million fine
December 30th, 2010 by Financial Writer
Quadrangle investment group founding partner and former Obama “auto czar” Steven Rattner agreed Thursday to pay a $10 million fine in a settlement with the New York attorney general’s office over a pension fund scheme.
Rattner was accused of a “pay-to-play” scheme involving New York’s pension fund, in which Rattner’s Quadrangle allegedly gave kickbacks to officials [...]
Tags: au, crisis, financial, financial crisis, government, Invest, investment, money, new york, obama, obama administration, rate, Retirees, taxpayers, us
Mortgage-Bond Slump ‘Won’t Be Fun’ for Housing: Credit Markets
December 13th, 2010 by Financial Writer
A slump in government-backed mortgage securities that’s sent yields to the highest level since May is threatening a recovery in the U.S. housing market, which had been bolstered by record-low borrowing costs.
Yields on Fannie Mae-guaranteed securities that most affect loan rates jumped as high as 4.21 percent today, an increase [...]
Tags: au, bank, bank of america, banking, banking group, banks, barack obama, ben, borrow, borrowers, borrowing, borrowing costs, business, buyers, California, company, credit market, dealers, Debt, dollar, economist, euro, Europe, fannie Mae, fed, Federal Reserve, finance, financial, financial industry, foreclosure, freddie Mac, general electric, government, home prices, homeowners, housing, housing market, increase, inflation, inventory, Invest, investment, investor, investors, lender, lenders, lending, loan, loans, mortgage, mortgage market, mortgage rates, mortgages, new york, obama, owners, president, rate, rate mortgages, sales, the dollar, unemployment, us, USA
Home loan conference recap
December 7th, 2010 by Financial Writer
Mortgage maven Christopher Cruise summarizes yesterday’s housing conference in D.C.:
My overall impression of the conference is that there will be changes and that maybe, maybe sometime in the next decade or so, Fannie and Freddie will cease to exist, or their functions will be split and half-retained in government and the other half fully privatized. [...]
Tags: au, bank, bank of america, borrow, borrowers, government, home prices, housing, housing market, increase, loan, loans, mortgage, obama, obama administration, president, ubs, us
Government plans three new measures to bolster economy
December 6th, 2010 by Financial Writer
Canada’s Conservative government will introduce three new measures in coming weeks to bolster the country’s economy”>
Christopher Furlong/Getty Images
Canada’s Conservative government will introduce three new measures in coming weeks to bolster the country’s economy
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Paul Vieira, Financial Post · Thursday, Sept. 16, 2010
The federal Conservative government plans to introduce three new measures in the coming weeks aimed [...]
Tags: 2012, au, bank, barack obama, ben, benefits, business, Canada, consumer, Debt, economic, economic growth, economic recovery, economist, economists, economy, fed, federal government, financial, glo, global economic, government, government spend, housing, interest rate, job, jobs, monetary, money, obama, president, prime minister, rate, recession, spending, unemployment, us, visa
Consumer spending lifts U.S. growth
November 17th, 2010 by Financial Writer
U.S. economic growth edged up as expected in the third quarter, but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.
Gross domestic product expanded at a 2.0% annual rate as consumer spending rose at its quickest pace since 2006 and businesses continued to [...]
Tags: bank, barack obama, borrow, borrowing, borrowing costs, business, business inventories, businesses, buyers, central bank, commerce department, consumer, consumer spending, Debt, deficit, democratic, economic, economic activity, economic growth, economist, economists, economy, energy, exports, fed, Federal Reserve, Florida, gdp, government, government spend, increase, inflation, interest rate, interest rates, inventories, Invest, investment, monetary, mortgage, obama, president, rate, spending, unemployment, us
Aug. trade deficit narrows unexpectedly to $30.7B
October 9th, 2009 by Financial Writer
The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.
The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. [...]
Tags: economists, exports, Global Economy, obama, oil, recession
Banks win round 1 in consumer fight
September 25th, 2009 by Financial Writer
This summer, when Obama administration officials talked about overhauling financial regulation, they threw around a catchy phrase sure to appeal to consumers: “Plain vanilla” mortgages and credit cards.
“Plain vanilla” was used to illustrate the powers of a proposed new consumer agency. The agency could set basic standards — like one-page, easy-to-understand applications for 30-year-fixed mortgages.
Now, [...]
Tags: financial, mortgages, obama, real estate
Volcker: Banks Should Not Trade
September 14th, 2009 by Financial Writer
Banks should not be allowed to own hedge funds or equity funds and their trading activity should be limited, former Federal Reserve Chairman Paul Volcker said in an interview with Il Sole 24 Ore on Thursday.
“A bank that generates the major part of its income from trading should not be allowed to have a banking [...]
Tags: banking, banks, economic, financial, obama